REGISTERED NUMBER: 00154807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DUNCAN HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W A L Duncan

J Duncan

A C Duncan

R M Duncan

REGISTERED OFFICE:

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

REGISTERED NUMBER:

00154807 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

97,194

2,080,490

Investment property

5

6,000,000

-

6,097,194

2,080,490

CURRENT ASSETS

Debtors

6

48,030

699,414

Cash at bank

5,784,164

3,511,170

5,832,194

4,210,584

CREDITORS

Amounts falling due within one year

7

2,099,190

191,299

NET CURRENT ASSETS

3,733,004

4,019,285

TOTAL ASSETS LESS CURRENT LIABILITIES

9,830,198

6,099,775

PROVISIONS FOR LIABILITIES

720,897

-

NET ASSETS

9,109,301

6,099,775

CAPITAL AND RESERVES

Called up share capital

7,230

7,230

Revaluation reserve

3,655,761

716,128

Capital redemption reserve

656,638

656,638

Retained earnings

4,789,672

4,719,779

9,109,301

6,099,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

W A L Duncan - Director

1.	STATUTORY INFORMATION

Duncan Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves and cash balances and no significant long term liabilities.

Having regard to the above, the directors believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable in respect of rents during the year net of value added tax. Turnover is recognised on an accruals basis over the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable and tax receivable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 January 2024

2,555,872

-

2,555,872

Additions

-

97,999

97,999

Reclassification/transfer

(2,555,872

)

-

(2,555,872

)

At 31 December 2024

-

97,999

97,999

Depreciation

At 1 January 2024

475,382

-

475,382

Charge for year

-

805

805

Reclassification/transfer

(475,382

)

-

(475,382

)

At 31 December 2024

-

805

805

Net book value

At 31 December 2024

-

97,194

97,194

At 31 December 2023

2,080,490

-

2,080,490

5.	INVESTMENT PROPERTY

Total

£

Fair value

Revaluations

3,919,510

Reclassification/transfer

2,080,490

At 31 December 2024

6,000,000

Net book value

At 31 December 2024

6,000,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

3,919,510

Cost

2,080,490

6,000,000

Investment property comprises freehold land and buildings. An independent valuation has not been carried out in the current year but the fair value of the investment property has been determined by the directors. The valuation was completed using the income approach, on the basis of the net income divided by the capitalisation rate.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

40,493

98,717

Other debtors

7,537

600,697

48,030

699,414

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

80,338

19,428

Other creditors

2,018,852

171,871

2,099,190

191,299

8.	RELATED PARTY DISCLOSURES

Included in other creditors are amounts due to shareholders of £104,144 (2023: £nil), and amounts owing to other related parties of £7,442 (2023: £7,442). These loans carry no interest and are repayable on demand.

Also, included in other creditors are amounts due to the directors £1,760,190 (2023: £5,000). The loan to director J Duncan carries an interest rate of 7%. These loans are repayable on demand.